More Time for Transition! CDS Export Declarations (New Deadline: June 4th, 2024)
iCustoms Urges Businesses to Transition to CDS Exports Before June 4th Deadline Exporters face a critical deadline of June 4th, 2024, to transition to the Customs Declaration Service (CDS). After this date, the legacy system, CHIEF, will be permanently disabled for accepting new export declarations. Failure to complete the transition by the deadline could result in a complete cessation of business export operations, potentially incurring significant financial losses and reputational damage “The June 4th deadline for CDS implementation is absolute, with no extensions available,” emphasises Adnan Zaheer, CEO & Founder of iCustoms, a leading provider with a proven track record in customs compliance solutions. “HMRC has confirmed the complete decommissioning of CHIEF in July. Businesses that have not completed the transition by then risk facing significant disruptions, delays, and potential penalties.” While HMRC may make limited exceptions for technical migration difficulties, a lack of preparation will not be considered an acceptable justification. According to our research, a significant number of businesses have yet to make the switch to CDS for exports. Proactive action is essential to avoid potential disruptions. The Switch to CDS: Why? The UK’s customs platform has undergone major modernisation with the switch to CDS. Compared to CHIEF, this new system has a more user-friendly interface, reduced procedures, and enhanced capability. What You Must Do: Subscribe to CDS (if not already): This is required for submitting export declarations directly from your application. If you’ve previously subscribed to imports, there’s no need to do so again. Speak with your software supplier: Verify if it is compatible with CDS exports and start the authorisation procedure. Furthermore, ask about utilising their software in conjunction with the HMRC’s free Trader Dress Rehearsal service to get practice filing declarations in a test setting. Find a Software Provider (if necessary): Resources are available if you do not already have a software provider that provides CDS export functionality. Join HMRC’s Webinar on CDS Exports: Attend the forthcoming webinar on Thursday, March 7, 2024, at 9:45 am to obtain insightful knowledge. The seminar will cover critical aspects such as CDS prerequisites, acquiring access, comprehending declaration requirements, and transition help. iCustoms: Your Partner in a Seamless CDS Transition At iCustoms, we understand how crucial it is to properly navigate customs laws. Our intuitive CDS-compliant software helps reduce mistakes, increase productivity, and streamline your export filings. Here’s how we can support you: Smooth CDS Integration: A flawless and effective declaration procedure is ensured by the seamless integration of our software with CDS. Automated Workflows: We automate repetitive operations to reduce human mistakes and save you time. Professional Assistance: Our dedicated group of experts is available to help you with the process and respond to any inquiries. Don’t wait until the last minute! Get in touch with iCustoms right now to discuss your unique requirements and find out how we can assist you in smoothly switching your export declarations to CDS. By working together, we can make sure that the shift goes well and confidently navigate the customs solutions of the future. Resources HMRC CDS Exports Deadline: https://www.gov.uk/government/news/customs-declaration-service-exporter-deadline-extended You may also like: 20 May 2024 Trade Compliance News – May 2024 Read More 15 May 2024 Common Customs Issues Faced by Importers and Exporters in 2024 Read More 14 May 2024 Beyond Recognition: The Significance of Our Multimodal 2024 Finalist Status Read More 07 May 2024 All You Need to Know About Customs Import Duty and Tax Read More 02 May 2024 From Streamlined to Stalled? Solving Rule of Origin Challenges in UK Construction with iCustoms Read More About iCustoms iCustoms is an all-in-one solution helping businesses automate customs processes more efficiently. With AI-powered and machine-learning capabilities, iCustoms is designed to streamline your all customs procedures in a few minutes, cut additional costs and save time. Start Now Solutions Customs Agents Traders Couriers Products Import Export Classification Intelligent Document Processing Customs Audit Landed Cost Calculation Restricted Screening
Cut Customs Time: 6 Hacks with iCustoms OCR Software
Cut Customs Time: 6 Hacks with iCustoms OCR Software Customs clearance has long been plagued by inconsistencies, making it difficult for businesses to carry goods across borders on time. Traditional customs procedures are manual and can result in mistakes, backlogs of documents, and delays. These problems cause businesses to face higher expenses and run the risk of non-compliance, in addition to impeding the seamless flow of goods. In response to the shortcomings of traditional customs clearance, iCustoms offers a unique solution: AI-powered OCR software (Optical Character Recognition). iCustoms solves the issues that have long impeded effective international trade by automating and streamlining customs processes with the use of cutting-edge technology. Businesses may say goodbye to the headaches of tedious document processing and manual data input by implementing iCustoms AI OCR. According to Science Direct, “According to a 2023 World Bank research, delays in customs clearance may raise the cost of products by an average of 10%, which affects companies of all sizes. This article will explore six revolutionary hacks that may be used to improve and speed up customs clearance procedures, all made possible by IDP’s OCR feature. 6 Hacks with iCustoms OCR software 1. Automated data entry Removal of Manual Entry: By removing the requirement for manual data entry, iCustoms OCR completely transforms the conventional customs clearance procedure. With the use of this technology, information can be reliably and effectively extracted from scanned customs documents. Time-saving advantages: Automating data entry results in substantial time savings. With iCustoms OCR ai, businesses can move through global trade more quickly by expediting the customs declaration procedure and cutting down on total processing time. Decreased error risks: Manual data input is prone to mistakes, which can cause delays and problems with compliance. iCustoms OCR Software reduces this risk by guaranteeing precise data extraction, improving compliance, and reducing the possibility of mistakes. 2. Quick document processing Addressing delays: Delays are common in traditional document processing, limiting the smooth movement of commodities across borders. iCustoms OCR provides real-time processing capabilities, allowing for faster document examination and verification during customs clearance. Quick handling: Businesses may save a lot of time when verifying documents by utilising iCustoms OCR. This helps create a more effective supply chain and expedite customs clearance. 3. AI-powered precision Interpreting complicated documents: The AI engine at the core of iCustoms OCR is capable of accurately interpreting a wide range of formats and complex documents. This guarantees accurate processing of even complex data, avoiding the need for human verification. Risk mitigation: By using AI-powered processing to achieve high accuracy, the risk of fines related to customs compliance is greatly decreased. Businesses have a dependable and legal option for managing international trade laws with iCustoms OCR. 4. Smooth integration with current systems Taking care of integration issues: Integration issues frequently make customs clearing systems less effective. These difficulties are solved by iCustoms OCR’s seamless integration with the current ERP and customs clearing systems. Easy data transfer: By reducing the need for manual intervention, the seamless integration guarantees an easy transfer of data across systems. This leads to simplified processes, increased operational efficiency, and a more coherent approach to customs procedures. 5. Advanced analytics and reporting Data-driven insights: Businesses may benefit from extensive reporting and analytics capabilities thanks to iCustoms OCR scanning software. Businesses may optimise their customs clearance strategy by using data-driven, well-informed decisions derived from insights into customs operations. Strategic decision-making: The analytics tools help organisations discover areas for improvement, improve overall customs clearance management, and make strategic decisions that benefit their international trade operations. 6. Customisation and scalability Flexibility to meet business needs: iCustoms OCR is made to be both scalable and flexible to meet the needs of businesses in a variety of sectors and sizes. It expands along with the company to meet changing demands in the ever-changing world of global trade. Customisation to particular workflows: The program’s customisation features let businesses adapt iCustoms optical character recognition software to particular workflows and specifications. This adaptability guarantees that the IDP software fits in perfectly with the particular requirements of every company, maximising its efficiency in the operations involved in customs clearance and providing paperless document solutions. FAQ’s What is OCR software? OCR software converts scanned documents into editable text, enabling intelligent document processing for customs declarations by extracting and digitising critical information. How does OCR software contribute to the accuracy of customs declarations? By translating text from scanned documents, decreasing mistakes in human data input, and enhancing the quality of customs declaration information, OCR software assures accuracy. Can OCR software handle diverse document formats commonly used in customs documentation? Yes, OCR software is adaptable and capable of handling a wide range of document formats that are frequently used in customs documents, guaranteeing processing flexibility and compatibility. In what ways does OCR software enhance the efficiency of customs declaration procedures? OCR software streamlines document handling for more efficiency, automates data extraction and shortens processing times to speed up customs declaration operations. You may also like: 05 August 2024 5 Best Intelligent Document Processing Software Read More 23 April 2024 The ROI of IDP Technology: Quantify the Value for Your Business Read More 22 April 2024 iCustoms’ Intelligent Data Capture: Industry-Wide Benefits Read More 17 April 2024 Effortless Trade Compliance: Automate Invoice Processing with iCustoms Read More 16 April 2024 Top Data Extraction Techniques for Faster Customs Clearance by iCustoms Read More Master Imports with iCustoms CDS Seamlessly Conquer Import Control System Release 2 Explore iCDS Import About iCustoms iCustoms is an all-in-one solution helping businesses automate customs processes more efficiently. With AI-powered and machine-learning capabilities, iCustoms is designed to streamline your all customs procedures in a few minutes, cut additional costs and save time. Start Now Solutions Customs Agents Traders Couriers Products Intelligent Document Processing Import Export Classification Customs Audit Landed Cost Calculation NCTS Document Management Software Master Imports with iCustoms CDS Seamlessly Conquer Import Control System Release 2 Explore iCDS Import
